NE BUSINESS BUREAU
NEW DELHI, APR 27
In a landmark moment for global trade diplomacy, India and New Zealand have signed a historic Free Trade Agreement (FTA) at Bharat Mandapam, ushering in a transformative era of economic cooperation anchored in scale, speed and strategic vision under Prime Minister Narendra Modi.
India and New Zealand, under the leadership of PM @NarendraModi ji and PM of New Zealand Mr. @ChrisLuxonMP, have signed the #IndiaNZFTA, India’s first women-led Free Trade Agreement and a defining milestone in our bilateral economic journey.
Successfully concluded in a record… pic.twitter.com/N6hSGKg4fL
— Piyush Goyal (@PiyushGoyal) April 27, 2026
It's been a memorable innings together, my friend @ToddMcClayMP, to win the #IndiaNZFTA! pic.twitter.com/r4qC1jYOy6
— Piyush Goyal (@PiyushGoyal) April 27, 2026
The agreement, signed by Union Commerce Minister Piyush Goyal and New Zealand Trade Minister Todd McClay, is being hailed as a “once-in-a-generation” opportunity to unlock trade, investment and innovation across sectors.
In a message, PM @narendramodi said that the India-New Zealand FTA marks a major milestone towards deeper global engagement and shared prosperity.
It strengthens economic ties between two vibrant democracies, unlocking opportunities for farmers, artisans, youth, entrepreneurs,… pic.twitter.com/zglAERVVcj
— PMO India (@PMOIndia) April 27, 2026
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- From AYUSH to AI: 118 Service Sectors Open, Global Pathways for Youth & Professionals
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- Fastest Deal, Biggest Promise: Indo-Pacific Partnership Fuels Viksit Bharat 2047 Vision
Calling it a defining milestone, McClay said:
“The agreement is a once-in-a-generation opportunity that will create new avenues for exporters, generate employment, and unlock significant economic potential.”
Backing the sentiment, New Zealand Prime Minister Christopher Luxon termed the pact a historic breakthrough:
“It unlocks major opportunities for trade, investment, and innovation… while reinforcing a shared commitment to stable, rules-based trade and deeper people-to-people ties.”
At the core of the pact lies unprecedented 100% duty-free access for Indian exports to New Zealand across all tariff lines—boosting labour-intensive sectors such as textiles, leather, footwear, engineering goods and processed foods.
Highlighting its transformative scope, Piyush Goyal said:
“The India–New Zealand Free Trade Agreement marks a defining milestone in India’s engagement with the developed world… It places special emphasis on strengthening MSMEs, fostering innovation, and enabling women-led enterprises to thrive in global markets.”
A major headline feature is the USD 20 billion investment commitment, expected to catalyse growth in manufacturing, infrastructure, agriculture, startups and emerging technologies, reinforcing global confidence in India’s economic trajectory.
Commerce Secretary Rajesh Agrawal emphasised the broader impact:
“The FTA marks a new era in our economic partnership… India now has a level playing field for exports… The deal offers predictability in today’s uncertain world.”
The agreement also unlocks 118 service sectors, offering Indian professionals access across IT, healthcare, education, telecom, tourism and more—backed by Most-Favoured Nation commitments in 139 sub-sectors.
In a first-of-its-kind mobility framework, the pact introduces:
- A Temporary Employment Entry visa pathway (5,000 slots)
- Post-study work visas up to 4 years
- Working holiday visas for youth
—creating seamless global opportunities for students, skilled professionals and entrepreneurs.
While opening markets, India has carefully protected sensitive sectors. Dairy, key agricultural products, edible oils and select commodities remain excluded, ensuring safeguards for farmers and rural economies.
The FTA also fast-tracks access for pharmaceuticals and medical devices, recognises global regulatory approvals, and opens doors for India’s AYUSH systems to gain international traction—marking a cultural as well as commercial breakthrough.
Concluded in under nine months—one of India’s fastest deals with a developed nation—the agreement reflects a new-age trade architecture blending tariffs, talent, technology and trust.
With bilateral trade already gaining momentum, the pact is expected to accelerate exports, deepen value chains, create jobs and strengthen Indo-Pacific economic resilience—placing India firmly on the path to Viksit Bharat 2047.
